23 September 2016

NIFTY PREDICTION & FREE NIFTY TIPS FOR 26 SEP 2016

Snapping two-session long gaining spree, the Sensex on Friday settled the day 105 points lower, while the broader Nifty ended below its key 8850 level.
The headline indices took a pause after the US Federal Reserve's decision to stand pat on interest rates sparked a rally in the Thursday's session. The Fed decision is sparking hopes of additional foreign investments into emerging markets such as India, with MSCI's broadest index of Asia-Pacific shares outside Japan trading at near 14-month highs. The Sensex ended 105 points lower at 28668 and Nifty slipped 36 points to settle at 8831. For most part of the day, the Sensex and Nifty traded in a choppy manner. Finally, the BSE Sensex ended with a loss of 105 points at 28,668. The Sensex opened at 28810 touched an intra-day high of 28825 and low of 28627. The Nifty closed with a loss of 36 points at 8832. The Nifty opened at 8881 hitting a high of 8885 and low of 8820.
After the move upwards, it's always good to see markets pause for a while and consolidate, recover and then make a move up. In the next trading session contract can extend its rally and test resistances at 8900 and 8950 levels in the near term. On the downside, a decisive fall below key support at 8800 is needed to alter the bullish momentum and drag the contract down to 8750 and then to 8700 levels.
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Supports: 8750 and 8700
Resistances: 8900 and 8950

2 comments:

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